Cere­cor blast­ed as its sec­ond clin­i­cal roll of the dice in days comes up snake eyes

Just a few days af­ter Cere­cor was pum­meled $CERC by the news that its lead de­pres­sion drug, CERC-301, failed a mid-stage study, the mi­cro­cap com­pa­ny has been forced to ad­mit that its top drug over­all flopped in a Phase II for nico­tine with­draw­al.

CERC-501, re­cent­ly the sub­ject of some con­sid­er­able mar­ket buzz af­ter a sim­i­lar treat­ment from Alk­er­mes scored pos­i­tive da­ta in two late-stage tri­als, failed the tri­al of 71 heavy smok­ers. But the biotech now plans to sol­dier on in ma­jor de­pres­sion, look­ing to see if it can make progress in a field lit­tered with the corpses of dead drug pro­grams.

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